When you’re preparing to jet off around the world, it’s very easy to get caught up in the smaller details. Whilst packing your sun cream is important, you should also be considering the longer financial implications of your adventure. Here are three tips to managing your money whilst abroad:
Get a job
Not everyone intends to work whilst they travel, but we highly recommend it. Getting a job is an excellent way to find your feet in a new country and save some money in the process. If you’ve been moving around a lot, you should spend a couple of months working to top-up the bank account. You can visit yearoutwork.co.uk to get an idea on what sort of jobs are available before you travel.
A lot of hostels will allow you to work for your bed. This provides a very cheap way to live and also meet people at the same time. If you’re travelling to Australia, for example, you can pick fruit on farms in return for warm meals and a roof above your head.
Receive money from home
It can be incredibly comforting to know that you have money at home that can be sent to you. Before you set off on your trip of a lifetime, you can give a family member power of attorney over your bank account and allow them to carry out international money transfers. Travelex let you book regular transactions and send money overseas by using a quick and safe online system.
Receiving regular payments from home is a fantastic back-up plan if you ever encounter any problems trying to find work, or if you’ve spent a bit more than you should have.
Plan ahead and set a budget
The last thing you want when travelling is to become a victim of crime. We’d recommend that you limit the amount of cash you carry on your person. You should also carry out thorough research into the areas you intended to visit, in order to get an idea of what the potential risks may be and how you can protect yourself. The best way to do this is by speaking to other travellers. The Year Out Group have put together an excellent set of tips for staying safe when travelling abroad.
When it comes to managing your daily allowance, you should budget yourself a set amount each week. This will help you avoid over spending and running out of cash when you need it most.